The permanent magnets have a very broad market prospects

　　In 2010, the permanent magnets' market production is about 1000000 tons, of which the ferrite annual production is about 900000 tons, NdFeB magnets' annual output is 100000 tons, only accounting for 10% of the total output. By the current price, the neodymium magnets' market size is about US $8,000,000,000.

　　Because of light weight, small volume, strong magnetic property and many other advantages, neodymium iron boron permanent magnets have begun to gradually replace the ferrite permanent magnets, if a neodymium iron boron permanent magnet can replace 50% of ferrite magnets, then the output will reach hundreds of billions of dollars, which has a broad market space.

　　The application of neodymium magnets is divided into traditional application ( speaker, magnetic separator, permanent magnet motor, VCM, MRI etc.) and new applications ( wind power, frequency conversion air-conditioning, elevator, hybrid cars, car EPS steering motor ). In China, the traditional application accounted for 94% of all the application, Market penetration is high, demand in the period of steady growth, the annual growth rate of 5%-10%, and the new applications accounted for only 6%, it is the main motive force to promote the Nd-Fe-B industry's development, especially the new energy car demand will try for a substantial industry demand.